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Our Service – Appointed Representative

Our Full FCA Accreditation Package for General Insurance and/or Consumer Credit;

• Seamless management of the regulatory changes and process for the new GAP Regime

• Full support in your transfer of AR status with the FCA and preparation to join the Automotive Compliance Network

• Automotive Compliance Showroom Manager® bespoke to your products

• Long term storage of all paperwork in durable database medium

• All ongoing FCA Regulatory updates

• Comprehensive Staff Training and regular Management Consultation with non-intrusive auditing to maintain compliance

• Fully compliant process & procedure to meet your sales process

• Secure electronic signature pads for customer’s signature

• Fully supported dedicated motor-industry experienced Dealer Development Manager

• General Insurance Accreditation Testing for all staff that complete Demands & Needs with 30 day on-screen notification to all users of due date, plus the Authorised Person, using the on-

line Automotive Compliance Academy

• Specialist Automotive Finance training and certification via Finance & Leasing Association (FLA) for all dealer customer facing sales staff (Annual renewal July 1st)

• Complaints Monitoring and Auditing

• Set up and roll out training in your dealership, by Motor Industry professionals, so everyone gets trained

• 7 day telephone support

• Monthly reporting reviewed to monitor and ensure compliance

• Professional Indemnity Insurance

This partnership makes us responsible for FCA compliance and The Dealership responsible for ensuring that all customers are entered into our Automotive

Automotive Compliance acts as a Principal Firm for an Appointed Representative (AR) network, being Dir ectly

Authorised and Regulated by the Financial Conduct A uthority (FCA)

We work specifically within the retail motor indust ry, for both General Insurance & Consumer Credit com pliance

Our permissions allow motor dealers to sell General Insurance and Finance, for the purpose of purchasin g a motor

vehicle, from product providers of their choice, un der the umbrella of Automotive Compliance, without the

requirement of being directly authorised by the FCA

The team of Automotive Compliance Ltd have over 160 years experience gained within the re tail motor industry, managing both

owner driver and PLC dealerships, leading sales tea ms and above all selling vehicles

“We speak the dealers language and understand their problems and needs”

About Us Automotive Compliance Ltd

• Authorised by the FSA (now FCA) as a Principal Firm for General Insurance since 2008

• Since November 1 st 2014 now also authorised as Principal Firm for Cons umer Credit

• We only work with motor-retail dealers

• We have a bespoke FCA solution , working with over both our own Appointed Representative network, covering Firms 444 , and Directly Authorised motor dealers in supporting their FCA compliance

• Since December 2014, we have started working with 1 91 Consumer Credit Appointed Representatives (161 a re AR’s for both General Insurance & Consumer Credit / 30 are AR’s for Consumer Credit only, an a dditional 88 new AR’s joined our AR network)

• During 2015, and year to date, 87 % of the dealers that came on board as Appointed Representatives of Automotive Compliance were referrals from within the

trade

• Since we became a Principal Firm with the FSA in 20 we have 08 retained over 90% of our dealers, social proof that we aid the retail motor industry and deliver results

• Automotive Compliance hasa robust fully “Advised” 3-stage process , to ensure that all customers are treated fairly

• Showroom Manager® is a tried and tested on-line Demands and Needs presentation that ensures the Sales Person is focused on the products which saves the need to just tick boxes for compliance sake alone, with over 1,600 Users logging in daily representing all franchises from AstonMartin to Volvo

• Showroom Manager® is dealer branded to represent specifically the dea ler’s product line-ups and support their sales proc ess in a way that is proven to be both simple and easy for their sales teams to use and th e customers to understand

About Us

How does it work in the Showroom

“TCF”

“Treating Customers Fairly”

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Compliance Showroom Manager® sales process

“Treating Customers Fairly”

All firms regulated by the FCA have to support the FCA’s principle that a firm ‘must pay due regard to the interests of its customers and treat them fair ly’.

The TCF (‘treating customer fairly’) principle aims to raise standards in the way firms carry on their business by introducing changes that will benefit consumers and

increase their confidence in the financial services industry.

Specifically TCF aims to:

• help customers fully understand the features, benef its, risks and costs of the financial products they buy

• minimise the sale of unsuitable products by encoura ging best practice before, during and after a sale

FCA’s Desired consumer outcomes of TCF

The FCA has outlined six core consumer outcomes tha t it wishes to see as a result of the TCF initiativ e. These are:

Outcome 1 - Consumers can be confident that they are dealing w ith firms where the fair treatment of customers is c entral

to the corporate culture

Outcome 2 - Products and services marketed and sold in the ret ail market are designed to meet the needs of identi fied

consumer groups and are targeted accordingly

Outcome 3 - Consumers are provided with clear information and kept appropriately informed before, during and after the

point of sale

Outcome 4 Where consumers receive advice, the advice is suita - ble and takes account of their circumstances

Outcome 5 - Consumers are provided with products that perform as firms have led them to expect, and the associate d

service is of an acceptable standard and as they ha ve been led to expect

Outcome 6 - Consumers do not face unreasonable post-sale barri ers imposed by firms to change product, switch prov ider,

submit a claim or make a complaint

What TCF isn’t

TCF does not mean:

• creating satisfied customers; a satisfied customer could still be treated unfairly and not know it

• that every firm must offer an identical level of se rvice

Treating Customers Fairly ( TCF )

•Ensure we give our customers the best advice in th eir purchase

•Ensure our customers are eligible for our products and they are of benefit to them

•Ensure the customer has all of the information to enable them to make an informed decision

•Allow the customer time to make that informed deci sion

Show evidence we have done so should we need to ver ify

we have Treated all of our customers Fairly

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Mr Customer :

“We are regulated by the Financial Conduct Authority for your peace of

mind which means we are governed by regulation and adhere to the

FCA’s treating customers fairly policy, to ensure we give you the very best

advice in the purchase of your vehicle.

We also need to keep a record of this should the FCA wish to check we

have treated you fairly”

Initial

Disclosure

Document (IDD)

&

Finance

Suitability

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Ensure the customer can see the screen

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6

Finance Suitability Finance Suitability

Finance Suitability - Present Finance Suitability -Not Present

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Sales Managers or Business Managers to check that t his

document has been completed prior to writing up a d eal

Statement

of Demands

and Needs

( SODAN )

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Statement of Demands &

Needs

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Present Not Present

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Sales Managers or Business Managers to check that this

final document has been completed prior to invoicing the

deal

GAP E-mail

Document prints

two copies showing

the optional

products

recommended.

Customer now has a

copy of products

recommended and

statement of price

with their signature

from both stages.

This is the dealers opportunity to be professional in advising the

customer and presenting to them the benefits of the se products

Advised Personal Recommendations

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Dear Mr. Customer Date 15/06/2016

This email comes from an un-monitored mailbox. Please do not reply to this email.

If you would like to discuss the policy further, or your vehicle purchase, please contact Jack Irwin on 01452 671570.

Thank you for ordering your new vehicle from Jack Irwin at Automotive Compliance Limited today.

We have a duty of care under our treating customers fairly policy to advise you of the optional products we have available that can protect you and your new vehicle during your

ownership.

As you were advised today, under the new FCA regulations we are unable to accept a decision regarding your option to purchase Guaranteed Asset Protection (GAP) Insurance on

the same day as you order your vehicle. This is because we want to give you time to read the key facts (which are included in the documents attached to this email) to enable you to

make a fully informed decision.

We can accept your decision as early as the next calendar day, if:

• You understand the total-premium payable for the add-on GAP Insurance

• You are confident that the policy is right for you

• You understand the features and benefits

• You would benefit from the cover provided

• You understand the exclusions

• You understand the claims procedure

• You understand the complaints procedure• You understand your cancellation rights

Should you decide to complete your purchase of GAP insurance before collecting your new vehicle, please click the link below.

http://regulatedproducts.automotivecreditcompliance.com/

Use your email address, and the following PIN to access : tBN7hG

FCA regulations brought into force on 1st September 2015 require a 4-day deferred opt-in period for you, the customer, before conclusion of a GAP sales contract can be

completed. This is to ensure that the purchaser fully understands the policy key facts and has had opportunity to look at other products in the market place which may provide the

same or similar level of cover.

GAP PURCHASE POLICY FREQUENTLY ASKED QUESTIONS Why can I not purchase GAP from you today?

FCA regulations require that customers are given adequate time to make a fully informed decision regarding GAP insurance and have inserted a deferred 4 day opt-in period. You

will be presented with an opportunity to purchase within the four day window should you choose, although you will have to wait until the day following your new vehicle order to

complete your GAP purchase.

When did the FCA regulations start?

1st September 2015.

When does the deferred 4 day period start?

It begins when you have been provided with the key facts documentation regarding the specific GAP policy/policies which are available from your dealer, and are attached to this

e-mail.

I don’t want to wait 4 days to collect my new vehicle, can I buy GAP earlier?

You will be presented with an opportunity to complete your purchase of GAP insurance during the deferred 4 day period.

However you must wait until the day following your vehicle order to complete your GAP purchase.

You will receive an e-mail titled “Purchase Confirmation”, from AccountManager@automotivecreditcompliance.com, giving you the option to complete your purchase should

you feel confident to do so. If you do not receive this email, then please check your spam folder.

• Your Recorded Email :jack.irwin@automotive-compli ance.co.uk • Your Access PIN : tBN7hG

I want the GAP added to my finance agreement?

Depending on the finance provider, should you decid e to purchase GAP you may be able to include this p urchase in your finance agreement without the need for any addition al credit searches, please confirm with your dealer if this facility is

available from the lender providing the finance for your vehicle purchase.

Can I only buy GAP from you?

No. GAP insurance is available elsewhere in the mar ket place and may provide the same or similar level of cover.

What options do I have for paying for GAP Insurance ?

You can pay the policy price in full with credit/de bit card or cash. Alternatively, you may be able to spread the cost within the

finance agreement, subject to the lender. Some deal ers may offer a separate monthly payment plan. Plea se speak to your

dealer.

Please Note. This email comes from an un-monitored mailbox. Please do not reply to this email.

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13

Handover

Complete

purchasing decision

for Products

recommended

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15

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Document prints two copies as

before but now with closure as these

are the customer’s decision on

products recommended.

Customer now has a copy of products

purchased and statement of price

with their signature from all stages.

Sales Managers or Business Managers to check that t his

final document has been completed prior to signing off

and closing the deal file

Treating Customers Fairly ( TCF )

• Ensure we give our customers the best advice in th eir purchase

• Ensure our customers are eligible for our products and they are of benefit to them

• Ensure the customer has all of the information to enable them to make

an informed decision

• Allow the customer time to make that informed deci sion

Show evidence we have done so should we need to ver ify

we have Treated all of our customers Fairly

Management

Reports

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All management have access to reports via their log in, these can be accessed as follows;

• Login to Automotive Compliance Showroom Manager®

• Click on Reports & Statistics

Management Reports

All Reports can be filtered

• Select “Start Date” & “End Date”

• Select “Dealership” from dropdown menu

Management Reports Management Reports

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E-Learning

FCA Compliance & SAF Training

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Training Material

8 out of 10 is a Pass, if failed, locks out user fo r 24 hours

Take Exam